💣 The CFX currency behind the Conflux project is trying to convince us that it is the official blockchain of China... but the truth? It's more marketing than technology.
The currency has dropped from $1.7 to around $0.21. This is not a correction; it's a free fall, and every now and then we hear about a new partnership or government support, and then the price goes up for two years and drops four. You feel like someone is pumping it and then dumping it.
Also, the network itself is not as decentralized as they claim. Most transactions occur from very few wallets, meaning the game is not distributed; it's distributed only among its owners.
And inflation is running like fire. People take staking rewards and sell them immediately, and the whole market is drowning in useless CFX. Where is the real demand? There are no heavy dApps, no massive projects, just promises.
Liquidity is also weak; when you try to buy or sell a decent amount, the price swings. This gives the feeling that the whole project is a bubble waiting for a pin.
In short, CFX may seem tempting, but there are mines underneath. If you're going to enter, be smart, use a very small percentage and set a clear stop-loss, and stay alert for any new hype. Otherwise, just watch and save your money for something worthwhile.
